Selected Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (unaudited)

The following table presents selected unaudited financial data for each of the eight quarters in the two-year period ended December 31, 2019, which have been updated to reflect the revisions discussed in Note 14. Revision of Prior Period Financial Statements and Note 1. Organization and Description of Business. The revision of the third quarter 2018 was previously effected in the Company’s Quarterly Report on Form 10-Q for the third quarter of fiscal 2019 and thus the impact of the revision on such periods financial data is not reflected below. The Company will effect the revision of its unaudited interim financial statements as of and for the three months ended March 31, 2019 and as of and for the three and six-months ended June 30, 2019 when it issues its Form 10-Q for the periods ended March 31 and June 30, 2020.

The Company believes this information reflects all recurring adjustments necessary to fairly state this information when read in conjunction with the Company's financial statements and the related notes. Net loss per common share, basic and diluted, for the four quarters of each fiscal year may not sum to the total for the fiscal year because of the different number of shares outstanding during each period. The results of operations for any quarter are not necessarily indicative of the results to be expected for any future period (in thousands of dollars, except for share and per share data):


Quarter Ended	March 31		June 30		September 30		December 31
2019:
Total revenues	$	48,334	$	52,441	$	54,673	$	59,104
Gross profit	36,561		39,429		40,888		45,189
Net loss	(8,250)		(10,725)		(18,293)		(17,300)
Net loss per common share, basic and diluted	$	(0.34)	$	(0.43)	$	(0.72)	$	(0.65)
2018:
Total revenues	$	31,762	$	35,292	$	38,441	$	41,782
Gross profit	23,212		25,806		28,488		30,976
Net loss	(11,077)		(13,304)		(9,727)		(16,270)
Net loss per common share, basic and diluted	$	(0.47)	$	(0.56)	$	(0.40)	$	(0.67)

The impact of the revision on the unaudited quarterly financial data is as follows:


Quarter Ended	June 30, 2019
	As Reported		Adjustment		As Revised
Total revenues	$	53,331	$	(890)	$	52,441
Gross profit	40,506		(1,077)		39,429
Net loss	(11,467)		742		(10,725)
Net loss per common share, basic and diluted	$	(0.46)	$	0.03	$	(0.43)

Quarter Ended	March 31, 2019
	As Reported		Adjustment		As Revised
Total revenues	$	47,214	$	1,120	$	48,334
Gross profit	35,484		1,077		36,561
Net loss	(8,019)		(231)		(8,250)
Net loss per common share, basic and diluted	$	(0.33)	$	(0.01)	$	(0.34)


Quarter Ended	December 31, 2018
	As Reported		Adjustment		As Revised
Total revenues	$	43,155	$	(1,373)	$	41,782
Gross profit	32,626		(1,650)		30,976
Net loss	(14,713)		(1,557)		(16,270)
Net loss per common share, basic and diluted	$	(0.61)	$	(0.06)	$	(0.67)


Quarter Ended	June 30, 2018
	As Reported		Adjustment		As Revised
Total revenues	$	35,469	$	(177)	$	35,292
Gross profit	25,979		(173)		25,806
Net loss	(12,206)		(1,098)		(13,304)
Net loss per common share, basic and diluted	$	(0.51)	$	(0.05)	$	(0.56)

Quarter Ended	March 31, 2018
	As Reported		Adjustment		As Revised
Total revenues	$	30,565	$	1,197	$	31,762
Gross profit	21,954		1,258		23,212
Net loss	$	(11,117)	$	40	$	(11,077)

Disaggregation of RevenueDuring the preparation of the Company’s annual financial statements for the year ended December 31, 2019, the Company identified a $965 thousand classification error in the presentation of contracted third-party payors and non-contracted third-party payors in the disaggregation of revenue disclosure in Note 2. Summary of Significant Accounting Policies of its Quarterly Report on Form 10-Q for the period ended September 30, 2019. Previously reported nine-month ended September 30, 2019 balances (in thousands) of $72,040 and $9,016 for contracted third-party payors and non-contracted third-party payors, respectively, should have been $73,005 and $8,051, respectively. The Company concluded that the amounts were not material to its previously issued September 30, 2019 condensed consolidated financial statements. The error impacted the disclosures in the September 30, 2019 Form 10-Q but did not impact the Company’s condensed consolidated balance sheets, statements of operations or statements of cash flows included in such 10-Q.